I just read a letter written by the president of the local representing NYC correction officers. He was trying to defend his vote to sell out retirees health benefits. He starts out moaning about the Health Insurance Stabilzation Fund (HISF). He states that rising health care costs are diminishing the HISF.
The City and the unions have been crying over the HISF ever since this attack on retirees started. So below is the income statement chart for the fund since 2012. I've only included the main items.
The fund has only paid GHI $378M over the eleven year period.
But over the same period the HISF fund has paid:
- the City $1.889B ($77M every year plus a $1.0B bonus in 2015).
- the union welfare funds $996M and
- other discretionary benefit providers $654M.
Payments to the City, the welfare funds, and the other benefit providers are controlled by the unions and the city subject to collective bargainning. You know collective bargainning, where the unions fight with the City to get what they deserve and not give things back to the City.
| Fiscal Year | Opening Balance | 1984 HBA City Contib Pay In | City Liability Pay In: GHI less than HIP | Other Benefit Pay Out | Welfare Fund Pay Out | 2009 HBA City Refund Pay out | GHI Pay out: GHI greater than HIP | CBA City Refund Pay out | Closing Balance |
|---|---|---|---|---|---|---|---|---|---|
| 2012 | $587M | $35M | $465M | $48M | $38M | $112M | $0.0M | $0.0M | $894M |
| 2013 | $894M | $35M | $0.0M | $39M | $38M | $112M | $0.0M | $0.0M | $744M |
| 2014 | $744M | $35M | $1.162B | $40M | $38M | $112M | $50M | $0.0M | $1.706B |
| 2015 | $1.706B | $35M | $336M | $45M | $38M | $112M | $100M | $1.0B | $789M |
| 2016 | $789M | $35M | $1.202B | $43M | $52M | $112M | $8M | $0.0M | $1.829B |
| 2017 | $1.829B | $35M | $54M | $57M | $188M | $112M | $0.0M | $0.0M | $1.586B |
| 2018 | $1.586B | $35M | $232M | $57M | $38M | $112M | $2.0M | $0.0M | $1.643B |
| 2019 | $1.643B | $35M | $136M | $27M | $81M | $112M | $39.3M | $0.0M | $1.587B |
| 2020 | $1.587B | $35M | $0M | $83M | $171M | $112M | $3.9M | $0.0M | $1.369B |
| 2021 | $1.369B | $35M | $154M | $74M | $160M | $112M | $175.9M | $42.8M | $1.031B |
| 2022 | $1.031B | $35M | $0.0M | $136M | $100M | $112M | $0.0M | $0.0M | $900M |
The MLC (DC-37 and UFT) and the City Attack on Senior Care
Along with the garbage about the HISF, this president had the gall to say that the MLC only voted to adopt the Aetna Medicare Advantage plan and not the termination of Senior Care. The City was required by a collective bargainning agreement to get the approval of the MLC before it terminated the GHI Senior Care contract. This union wants to hide the fact that it was part of the crime.
I hope every Correction Officer, who has to retire on disability and collect Social Security benefits, knows that he/she will get hammered with the Medicare Advantage crap. This is not about Aetna, all Medicare Advatage plans are inferior to Medicare with a supplemental plan.
I hope I don't have to tell anyone how to deal with statements from insurance companies. We have a massive legal industry based on this situation.
1 comment:
Thank you so very much that you posted this clearly for all to see. The COBA thinks that we are dumb and are going to be quiet and just give in, but
evidently, that will not happen. He thinks we are mushrooms, tried to keep us in the dark and feed us Sh*t.... As retired, most of us know that, the active needs to understand how poorly they will suffer as well. The next step, COBA and the MLC have no problem undermine the actives as well.
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